CHAPTER 1 ( MGT300)

BUSINESS DRIVEN TECHNOLOGY

  • Information technology is everwhere in business



Information Technology's Impact on Business Operations
  • Operations typically operate by functional areas or functional silos ( it is an individual business function which is divided into sub groups and has its own strategies and works parallel with other organizations)
  • Functional areas are interdependent ( two or more people; dependent on each other)




Information Technology Basics
  • Information Technology (IT) - a field concerned with the use of technology in managing and processing information .
  • Management information systems (MIS) - a general name for the business function and academic discipline covering the application of people, technologies, and procedures to solve business problems.
  • It is important to understand: - Data, information, business intelligence, knowledge and IT cultures.
Information
  • Data - raw facts that describe the characteristics of an event ( eg: order date, amount sold, customer number and quantity ordered)
  • Information - data convereted into a meaningful and useful context (eg: best-selling product, best customer, worst-selling product and worst customer)
  • Business intelligence - Information collected from multiple sources (suppliers, customers, competitors)
  • Knowledge - Includes the skills, experience and expertise, coupled with information and intelligence that creates a person's intellectual resources.
IT Resources
  • People use
  • Information technology to work with 
  • Information



 IT Cultures
  • Information-Functional Culture - Employees use information as a means of exercising influnce or power over others.
  • Information-Sharing Culture - Employees across departments trust each other to use information to improve performance. 
  • Information-Inquiring Culture - Employees across departments search for information to better understand the future and align themselves with current trends and new directions. 
  • Information-Discovery Culture - Employees across departments are open to new insights about crisis and radical changes and seek ways to create competitive advantages. 


Comments

Post a Comment

Popular posts from this blog

CHAPTER 2 (MGT300)

Image
IDENTIFYING COMPETITIVE ADVANTAGE Definition : A product or service that an organization's customers place a greater value on than similar offerings from a competitor. PORTER'S FIVE FORCES MODEL Definition : Usefool tool to aid organization in challenging decision whether to join a new industry or industry segment.  1. Buyer Power High- when buyers have many choices of whom to buy. Low- when their choices are few. Ways to reduce buyer power - loyalty programs 2. Supplier Power High- when buyers have few choices of whom to buy from.  Low- when their choices are many The suppliers ability to influence the prices they charge for suppliers (including materials, labor and services).  3. Threat of Substitue products & services High- when there are many alternatives to a product or service. Low- when there are few alternatives from which to choose.  Ideally, an organization would like to be on a market in which there are few substitu
Read more

CHAPTER 11 (MGT300)

Image
Building a Customer-Centric Organization- Customer Relationship Management Customer Relationship Management (CRM) ·        CRM enables an organization to: -         Provide better customer service -         Make call centers more efficient -         Cross sell products effectively -         Help sales staff close deals faster -         Simplify marketing and sales processes -         Discover new customers -         Increase customer revenues Recency, Frequency and Monetary value ·        Organizations can find their most valuable customers through “RFM” – Recency, Frequency and Monetary value The Evolution of CRM ·        CRM reporting technology - help organizations identity their customers across other applications ·        CRM analysis technologies- help organizations segment their customers into categories such as best and worst customers ·        CRM predicting technologies- help organizations make predictions regarding customer behavi
Read more